On 18 November 2020, the Department for Business, Energy and Industrial Strategy (BEIS) published a consultation seeking views on how best to improve the energy performance of domestic properties with a mortgage through obligations on lenders.
The government's preferred option is that lenders voluntarily agree to meet a portfolio average of EPC Band C by 2030, to align with the proposed increase of minimum energy standards in the private rented sector. The minimum rating required for a rented property currently is E with an increase to Band D planned from 2025.
A large number of the properties we deal with currently have ratings of around D to E. Purchasers of Buy To Let properties in particular but all buyers are urged to consider carefully the Energy Performance certificate and the recommendations of the improvements that could be made to increase the rating and to factor in the likely cost of upgrading their properties.
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